Bloomberg News

Thailand Stocks: Amata, Shin, Thai Metal Trade, Tongkah Harbour

February 22, 2009

Thailand’s SET Index (SET) fell less than 0.1 percent to 434.42 as of 10:42 a.m. in Bangkok.

Amata Corp. (AMATA) , Thailand’s biggest developer of industrial land, advanced 1.1 percent to 3.58 baht, set for its steepest climb since Feb. 5. The company’s net income in 2008 rose 16 percent to 1.19 billion baht ($33.4 million), or 1.12 baht a share.

Shin Corp. (SHIN TB), the telecommunications holding company partly owned by Singapore’s Temasek Holdings Pte, added 1.1 percent to 18.20 baht. The company’s profit in 2008 rose almost six-fold to 5.65 billion baht, or 1.76 baht a share. The company will pay an interim dividend of 1.25 baht a share for the period between Jan. 1 and April 9.

Thai Metal Trade Pcl (TMT) , a Thai steelmaker, gained 8 percent to 5.40 baht, heading for its biggest advance since May 21. The Bangkok-based company reported net income tripled to 733.4 million baht in 2008 from 231.5 million baht a year earlier. It will pay a dividend of 1 baht a share for its 2008 earnings, compared with a payout of 0.40 baht a share a year earlier.

Tongkah Harbour Pcl (THL TB), the mining company that makes most of its earnings from gold sales, rose 3.3 percent to 1.57 baht, on course for its highest close since Sept. 25. Gold jumped 6.4 percent last week to $1,002.20 an ounce in New York.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net.

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net.


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